Oct 18, 03:20
SOC Team
Insights into the AI trend with Spot On Chain
The bull run may be approaching, with Bitcoin likely to hit a new ATH by year-end according to our forecast. However, the altcoin season has not begun yet.
As such, Spot On Chain is launching a series of analytics on altcoin categories to provide a full overview ahead of the bull run. Starting with AI trending, we have highlighted key on-chain data and flagged important wallets to watch for 5 top-performing AI tokens over the past month, including TAO (+104%), ARKM (+81.8%), WLD (+58.4%), TAI (+13.6%), and FET (+12.6%).
1. Bittensor's TAO (+104%):
A. Statistics:
- Market capitalization/FDV: $4.29B/$12.21B - the biggest among the 5 tokens.
- Unlock schedule: 37.7% of the circulating supply, or 2.87M TAO (now $1.69B) will be issued within the next 13 months, ending on November 20, 2025 (more details).
- Circulating float: TAO has 77.7% of the total issuance staked, leaving 22.3% on DEX and CEX. This implies the circulating supply can be relatively small (more details).
- Prominent backers: Digital Currency Group, GSR Markets, Polychain Capital, and First Mark.
Fig 1. The current total amount of TAO staked.
B. On-chain activities:
Whale 0xbca, the top 1 holder of Wrapped TAO on Ethereum (WTAO), currently holds 8,081 WTAO ($4.75M), gaining an unrealized profit of $1.98M (+71.3%):
Fig 2. The overall WTAO purchasing of Whale 0xbca.
2. Arkham's ARKM (+81.8%)
A. Statistics:
- Market capitalization/FDV: $404.71M/$1.8B
- Unlock schedule: 77.5% of tokens are expected to be unlocked monthly in the next 6 years. However, the real unlock activities cannot be tracked on-chain as Arkham has moved the locked fund to Coinbase Prime (more details).
- Prominent backers: Bedrock, Binance Labs, D1Ventures, and Sam Altman (OpenAI's CEO).
- Recent news: Arkham intends to launch a crypto derivatives exchange this November and move its operations and the new derivatives exchange from London and New York to the Dominican Republic (more details).
B. On-chain activities:
Wintermute Trading, a veteran market maker, currently holds 22.512M ARKM ($40.52M), or 10% of the circulating supply, allegedly its largest holding. This amount also makes Wintermute Trading the fourth-largest ARKM-holding entity:
- main ARKM-holding address: 0x30C24F9814d87379104B5bACc365b6A1f91510c2
- This address belongs to the entity Wintermute Trading
Fig 3. The current top 5 holdings of Wintermute Trading.
3. Worldcoin's WLD (+58.4%):
A. Statistics:
- Market capitalization/FDV: $1.2B/$22.26B
- Unlock schedule: Since the token launch date in July 2023, only 5.4% of the total token supply has come into circulation. On July 16, 2024, Worldcoin extended the unlock period of WLD from 3 years to 5 years, now ending in July 2028, instead of 2026.
- Recent news: Worldcoin recently announced its goal to expand to 700 million users. Furthermore, on October 17, Sam Altman, co-founder of Worldcoin and OpenAI, is scheduled to speak in San Francisco and may deliver other significant project updates that could catalyze further price movement.
B. On-chain activities:
B.1. Top holders:
Teneo (liquidator of 3AC) currently holds 70.4M WLD ($156M) in the wallet "0xc7c", the 13th largest WLD-holding wallet:
The bankrupt Alameda Research still holds 23.3M WLD ($51.7M) in the wallet "0xf02". WLD is Alameda Research's second-largest holding, and Alameda Research has been unloading around 143,770 WLD every week since August 9:
- address: 0xf02e86d9e0efd57ad034faf52201b79917fe0713
- This address belongs to the entity Alameda Research
B.2. Recent trades:
On October 15, KOL "MANDO CT" (@XMaximist) with 573K followers tweeted about buying $500K worth of WLD. He believed this week would be a "massive" one for WLD and expected "crazy gains" from this investment.
Wallet 0x011 (likely Amber Group) withdrew 2.334M WLD from Binance in the past 12 days and transferred to three wallets. These wallets still hold all tokens, now gaining $150K (+2.97%) in unrealized profit:
- Amber Group's likely address: 0x011d19410fc79f140c08ffa8301e4153f17f4e27
- This address belongs to the entity Amber Group
- Track the wallet's WLD transfer via this visualizer.
Fig 4. MANDO CT (@XMaximist) tweeted about buying $500K worth of WLD on X (formerly Twitter).
4. Tars' TAI (+13.6%)
A. Statistics:
- Market capitalization/FDV: $63.5M/$117M - the smallest among the 5 tokens.
- Burn schedule: As of October 17, 3.46M TAI, or 0.35% of the total supply, has been burned after over five months since the token launch date in May 2024. Weekly burns will continue until all circulating supply is eliminated.
- Prominent backers: Solana Foundation, Google, Brave, Singularity, Dojo.
B. On-chain activities:
Whale 457py, the largest BONK holder with 2.41T BONK ($58.6M), also holds 3.78M TAI ($432K). This whale withdrew those TAI tokens from Gate.io at $0.166 (estimated cost: $628K) on June 13, 2024:
Fig 5. The current top 6 holdings of Whale 457py.
5. Artificial Superintelligence Alliance's FET (+12.6%)
A. Statistics:
- Market capitalization/FVD: $3.52B/$3.8B
- Unlock schedule: 92.6% of the total supply has come into circulation.
- Recent news: Another merger of AI-token CUDOS into the “Artificial Superintelligence Alliance” was conducted on September 27, after the successful first merger among FET, AGIX, and OCEAN in July.
B. On-chain activities:
The entity with a $145M profit from SHIB has been holding 3.114M FET ($4.36M) since August 31, now gaining $852K (+24.5%):
- address 1: 0x9ba831f068ea0bd605071e83377589a6249fba81
- address 2: 0x52097a921019431703015bdc80e4f45a098102cf
- address 3: 0x9133a90d2211a497134b6d377b24d66f60751671
- address 4: 0xa65840c0ae791cd70bd6ecc4c0eb6ed51775fc0b
- These addresses belong to the entity Early SHIB buyer 0x761
DWF Labs, a smart trader/market maker, currently holds 8M FET ($11.2M), which ranks as its top 1 holding. DWF Labs received those tokens from the Fetch.ai Foundation a month ago:
- address: 0x9eea88bdd424fad7f0db6af399c88f6266bd3a07
- This address belongs to the entity DWF Labs
Fig 6. The FET purchasing history of the entity Early SHIB buyer 0x761.
Fig 7. The current top 5 holdings of DWF Labs.
